Aigle Azur into receivership; 1,150 jobs at stake

After a turbulent week for France’s second biggest airline, Aigle Azur will go into receivership. The airline, already under judicial administration since Wednesday, decided to file for bankruptcy and to go into receivership. “Putting yourself under the protection of justice is the best solution, there is a strong mistrust between shareholders and the social climate has been degraded, “ a source close to the dossier told French newspaper Le Figaro. 

The company itself reassured that the bankruptcy filing will have no impact on travelers and that its planes will continue to fly. Worried about their job, the unions gathered in front of the company headquarters on Monday morning, before the start of a special works council.

Last month, Le Figaro already announced that the airline was facing financial difficulties and might ground its fleet as from September 2019. Aigle Azur is specialized in flights between France and Algeria (50% of activity) and employs 1,150 people.

Last Monday, Gerard Houa, third shareholder of Aigle Azur via his company Lu Azur (19%), proclaimed himself president of the airline by promising to inject 15 million euros to save the latter. Two days later, Gerard Houa and his number two Philippe Bohn, appointed general manager, were dismissed at the request of the court of Evry. President Frantz Yvetin returned to his function and asked for the appointment of a provisional administrator.

Source: Aigle Azur va déposer le bilan